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that the election is behind us, we now focus on the fate of the fiscal cliff. mike gibbs of raymond james says we get a compromise and this is the time to buy into weakness. nathan backrack of the financial network group is not as convinced. they are here along with david cass of matrixes a s es s ass and meg. gentlemen, lady, good to have you on the program. thank you so much. nathan, i kick it off with you. if we are heavy in stocks and depending on congress, you better buckle up. tell us why. >> well, because we're going to be all over the place right now. when i hear speaker boehner, who's just about 20 miles north of me, start to say all the things that are going to happen, it reminds me of my first sales manager who says, great, i'll wait to see it before i'm going believe it. right now, wall street has given a very clear message to president obama, which s oh, you think you know business, watch this. so now you're going to learn and you're going to learn real fast. a correspondence course is not going to help. we're going to be all over the place. my sense is until we get through with gr
your money is? welcome to the "closing bell." bill griffeth rejoins us in a moment. here's how we're shaping up at end of the day. the dow jones industrial falling by 88 points. pretty much the lows of the session. 12,879, matching what we saw when harry reid began making comments about an hour and a half ago. the nasdaq lower by nearly nine points. the s&p lower by seven points. 1399, just below the 1400 level. why the late-day selloff? most on the street blaming these words out of washington about fiscal cliff. >> there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. >> as we head into the fiscal cliff negotiations, my advice to the president would be seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. >> behind closed doors. even with the fiscal cliff looming over the marke
.5%. and the nasdaq, the outperformer there, up by 2%, on average. >> joining us with their thoughts, quinn, we just kept getting stronger as we went into the close today but you're still skeptical. you'd be selling into this rally. wouldn't you? >> absolutely. i think this is an opportunity to take it off the table. i said last week with maria that you don't panic sell. just as we didn't do and then we've got the rally. now is an opportunity to take the step back. we don't know what's going to happen between now and the end of the year. as i said earlier an hour ago, you are betting on congress. if you're optimistic they're going to find a solution and we'll be off to the races, fine. i'm not. i'm a seller into this rally. you'll get better prices into the new year. >> i would also like to mention as the markets have settled up, we did actually close above 13,000 again, folks. that is a gain of 172 points. michael, let me ask you, are you a seller into this rally as well? >> no, i am not. i actually feel the market will tread water for the rest of the year. really, we only have four, or five weeks
-on cnbc interview. good to have you on the program. thanks for joining us. >> sure, maria. >> well, tell us, what happened first yesterday at final mediation talks? was a deal ever close? >> you know, the judge has a gag order. he'll have my head if i talk about what went on during the mediation, but i think that he wanted to make sure that he did everything in his power to try to find a deal, if there was one to be found. you know, i appreciate the fact that he went through that effort. i was hopeful, but i think realistically that was going to be a tough thing to pull off. >> how much of an implication it was the fact the union leader did not show up to those mediation talks? >> well, the leader of the bakers union sent his second in command to the meeting. i think that part of what we needed to sort of focus on is the hole that's been created by the strike and the financial damage from that strike and our inability to produce at some of our critical plants. really just created a brand new hole that was too large to fill. bankrupt companies don't have a lot of margin for error to begin
Search Results 0 to 3 of about 4